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Daily-mcqs 03 Oct 2026

Current Affairs MCQs for UPSC & State PSC Exams 03 Oct 2026

Current Affairs MCQs for UPSC & State PSC Exams

Q1:

With reference to the Green Energy Corridor Phase-III (GEC-III) scheme, consider the following statements:

The scheme aims to facilitate the integration of up to 135 GW of renewable energy capacity by FY 2032-33.

The total outlay of the scheme is entirely funded as a 100% grant by the Central Government without any State participation.

Which of the statements given above is/are correct?

A: 1 only

B: 2 only

C: Both 1 and 2

D: None

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Answer: A

Explanation:

Statement 1 is correct: The Union Cabinet approved GEC-III with the primary objective of strengthening transmission infrastructure to evacuate up to 135 GW of renewable energy capacity by FY 2032-33.

Statement 2 is incorrect: The total outlay of GEC-III is ₹1,86,405 crore, out of which the Central Government provides ₹54,082 crore as Central Financial Support, while the rest is managed through implementing entities like State Transmission Utilities and other transmission networks. It is not 100% centrally funded without state/entity-level structure.

Q2:

With reference to the recently approved Green Energy Corridor Phase-III (GEC-III) scheme, consider the following statements:

The scheme is aimed at strengthening the Inter-State Transmission System (ISTS) rather than the Intra-State Transmission System (InSTS).

It incorporates the deployment of 50 GWh of Battery Energy Storage Systems (BESS) to manage renewable energy intermittency.

Greenfield transmission projects under the scheme will be implemented through Tariff-Based Competitive Bidding (TBCB) on a Build-Own-Operate-Maintain (BOOM) model.

Which of the statements given above is/are correct?

A: 1 and 2 only

B: 1 and 3 only

C: 2 and 3 only

D: 1, 2, and 3

Show

Answer: C

Explanation:

Statement 1 is incorrect: GEC-III specifically strengthens India’s Intra-State Transmission System (InSTS)—not the Inter-State Transmission System (ISTS)—to facilitate the evacuation of up to 135 GW of renewable energy across states and Union Territories.

Statement 2 is correct: The scheme allocates ₹50,000 crore out of its ₹1.86 lakh crore total outlay to deploy 50 GWh of Battery Energy Storage Systems (BESS). This helps manage solar and wind intermittency, reduce congestion, and support power availability during non-solar hours.

Statement 3 is correct: For execution, greenfield projects under InSTS follow Tariff-Based Competitive Bidding (TBCB) under a Build-Own-Operate-Maintain (BOOM) model, whereas brownfield upgradations and network strengthening follow a regulated Cost-Plus Basis.

Q3:

Consider the following statements regarding the Minimum Support Prices (MSP) for Rabi crops for the 2027–28 Marketing Season:

The Cabinet Committee on Economic Affairs (CCEA) approved MSP hikes for all six mandated Rabi crops.

The highest absolute increase in MSP has been registered for Safflower, followed by Rapeseed & Mustard.

The pricing policy aligns with the Union Budget 2018–19 announcement of setting the MSP at a minimum of 1.5 times the all-India weighted average cost of production.

Which of the statements given above are correct?

A: 1 and 2 only

B: 1 and 3 only

C: 2 and 3 only

D: 1, 2, and 3

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Answer: D

Explanation:

Statement 1 is correct: CCEA approved MSP increases for all six mandated Rabi crops, including wheat, barley, gram, lentil, rapeseed & mustard, and safflower.

Statement 2 is correct: Safflower saw the highest absolute increase (₹675 per quintal), followed by Rapeseed & Mustard (₹413 per quintal) and Lentil (₹390 per quintal).

Statement 3 is correct: The increases maintain the Union Budget 2018–19 mandate of fixing MSP at at least 1.5 times the production cost.

Q4:

With reference to the determination of Minimum Support Prices (MSP) in India, consider the following statements:

The Commission for Agricultural Costs and Prices (CACP) recommends the MSPs, while the final decision rests with the Cabinet Committee on Economic Affairs (CCEA).

For the 2027–28 Rabi marketing season, the highest expected margin (return) over the all-India weighted average cost of production has been recorded for Wheat.

Which of the statements given above is/are correct?

A: 1 only

B: 2 only

C: Both 1 and 2

D: None

Show

Answer: C

Explanation:

Statement 1 is correct: The CACP recommends MSP rates, whereas final approval is granted by the CCEA.

Statement 2 is correct: The estimated return over production cost is highest for Wheat (106%), followed by Rapeseed & Mustard (96%), Lentil (92%), Gram (59%), Barley (58%), and Safflower (50%).

Q5:

Consider the following statements regarding the Bankers’ Books Evidence Act, 2026:

It replaces the 135-year-old Bankers’ Books Evidence Act, 1891.

It adopts a technology-neutral approach by recognising banking records maintained in physical, electronic, digital, virtual, and cloud-based formats.

It permits the Central Government to extend its provisions to any entity or class of entities operating in the financial sector through a notification.

Which of the statements given above are correct?

A: 1 and 2 only

B: 1 and 3 only

C: 2 and 3 only

D: 1, 2, and 3

Show

Answer: D

Explanation:

Statement 1 is correct: The Bankers’ Books Evidence Act, 2026 formally repeals and replaces the colonial-era Bankers’ Books Evidence Act, 1891, which had been in place for 135 years.

Statement 2 is correct: The new legislation adopts a technology-neutral framework that explicitly recognizes records kept in physical, electronic, digital, virtual, and cloud-based formats, and allows certification through manual, digital, or electronic signatures.

Statement 3 is correct: While the Act applies to traditional banking entities and post office savings banks, it empowers the Central Government to extend its provisions by notification to other entities or classes of entities operating within the financial sector (specifying conditions or exceptions).